User Account

All Pages

How much cash quito should receive

Assignment Help Financial Accounting
Reference no: EM132771489

Pedro, Quito, Romeo and Sixto are partners, sharing earnings in the ratio of 3/21, 4/21, 6/21 and 8/21. The balances of their capital accounts on December 31, 2015 are:

Pedro, P10,000;

Quito, P250,000;

Romeo, P250,000;

Sixto, P90,000.

Problem 1 : The partners decide to liquidate, and they accordingly convert the noncash assets into cash. After paying the liabilities amounting to P60,000, they have P222,000 to divide. How much cash Quito should receive?

Reference no: EM132771489

Questions Cloud

Develop realistic job preview for flight attendants : You are the HR manager for a commercial airline. You have been assigned to develop a realistic job preview for flight attendants.
Describe the contributions of upton sinclair : Describe the contributions of Upton Sinclair and Ralph Nader to improve employee and consumer safety. Describe some current ethical issues that businesses face
How much is cash allocated to partner wow upon liquidation : How much is the cash allocated to Partner WOW upon liquidation? WEE, Capital -?64,600. The partners share profits and losses in a 4:4:2 ratio and all partners
Entitled to under the family and medical leave act : How much leave is entitled to under the Family and Medical Leave Act? Does the Family and Medical Leave Act guarantee paid time off?
How much cash quito should receive : How much cash Quito should receive? The partners decide to liquidate, and they accordingly convert the noncash assets into cash.
What were your feelings at the time of purchase : What were your feelings at the time of the purchase when it seemed like such a good deal?
What the entry to record payment of net pay would include : What the entry to record the payment of net pay would include a? Social security and Medicare taxes withheld 903.00. Salaries expense $12,040.00
When are attacks likely to occur : You are the web master for the Republican Party National Committee. Prepare a risk assessment analysis for your website. Some questions to consider.
Global perspective : I need a SWOT analysis from a global perspective done on Apple Inc. How would you convert the organization's weaknesses into strengths?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd